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XCEL Test Solutions Test | Q&A Latest 2025/2026 | 100% PASS What is a participating life insurance policy/ - Answer -Contract that allows the policyowner to receive a share of surplus in the form of policy dividends An insurer owned by its policyholders is called a - Answer -Mutual insurer An insurer enters into a contract with a third party to insure itself against losses from insurance policies it issues. What is this agreement called? - Answer -reinsurance which type of insurance is it where the insurer transfers loss exposures from policies written for its insureds - Answer -reinsurance which is not a characteristic of reinsurance? - Answer -increases the unearned premium reserve a participating company is also referred to as which type of insurer? Answer -mutual insurer when a mutual insurer becomes a stock company, the process is called... - Answer -Demutualization which is a contract that involves one party which indemnifies another when a loss arises from an unknown event? - Answer -insurance policy one important function of an insurance company is to identify and sell to potential customers. Best description...? - Answer -marketing